Finance Minister Muhammad Aurangzeb highlighted the increasing investor confidence in Pakistan’s economic trajectory during a press conference in Islamabad on Tuesday. He attributed this confidence to the nation’s steady advancement towards stability.
Minister Aurangzeb, accompanied by Law Minister Azam Nazeer Tarar and Minister for Information and Broadcasting Attaullah Tarar, emphasized the positive outcomes of a recent visit by a Saudi delegation, viewing it as a testament to Pakistan’s economic strength.
“The visit of the Saudi delegation has produced favorable results, indicating their trust in Pakistan’s economic landscape,” stated Minister Aurangzeb, expressing optimism about the country’s direction. He praised the agriculture sector’s significant growth of five percent, driven by abundant harvests, and noted considerable improvements in key economic indicators.
“We have exceeded $9 billion in foreign exchange reserves, and inflation has dropped significantly from 38% to 17%, showing a downward trend,” Aurangzeb revealed.
With expectations of an upcoming visit by an International Monetary Fund (IMF) team, the Finance Minister reiterated Pakistan’s dedication to achieving macroeconomic stability and implementing structural reforms.
“Our focus remains on increasing the tax-to-GDP ratio to thirteen to fourteen percent, along with crucial reforms in the energy sector and reducing losses incurred by state-owned enterprises,” he emphasized.
Addressing pension liabilities, Minister Aurangzeb confirmed plans for comprehensive reforms, ensuring they would be implemented with parliamentary consensus. “A committee, chaired by the Finance Minister, is diligently working on pension reforms, which will require legislative action,” he explained.
Echoing these sentiments, Law Minister Azam Nazeer Tarar reaffirmed the government’s commitment to transparent and sustainable pension reforms. “Pension reforms will be transparent, inclusive, and supported by a legislative framework,” he pledged.
Minister for Information and Broadcasting Attaullah Tarar echoed the government’s proactive approach to pension reforms, ensuring public transparency in decision-making.
“We are actively considering proposals to alleviate the pension burden, including discussions on service length and their application across all institutions,” he promised, guaranteeing timely updates on the matter.
